President Donald Trump just announced that he has no plans to fire Fed Chairman Jerome Powell, dismissing recent rumors that Powell was about to get the ax.

President Trump correctly criticizes the absurd notion that Powell would endorse spending $2.5 billion on luxury headquarters upgrades, especially given the Federal Reserve’s overall dysfunction.

We face a significant deficit; this is financially irresponsible and a disservice to American taxpayers.

Watch:

I’m wondering if Trump is creating space for him to adjust the interest rate now, without losing too much face. The latest inflation news should enable the board to honestly consider a rate cut now.

Mark my words: if they don’t lower the rates reasonably soon, the president will reverse course.

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